Future Market Insights (FMI), Dubai: According to a study conducted by ESOMAR-certified consulting firm Future Market Insights (FMI), the global sachet packaging market is poised to total US$ 8.7 Bn by the end of 2021. With rising demand for convenient and small-sized packaging solutions across the globe, the market for sachet packaging is set to project a 5.4% of year-on-year (YoY) growth in the year 2021.
Between 2016 and 2020, the market grew at a CAGR of 5%. Driven by low cost, recyclable, customizable, and portability features, sachet packaging is gaining immense traction across end use such as food & beverage, lubricants & solvents, pharmaceuticals, cosmetic and personal care, and industrial. Driven by this, the sachet packing market is estimated to exhibit healthy growth at a CAGR of 5.8% over the forecast period 2021-2031.
Rapidly emerging trends such as ‘single-serve dose packaging’ and ‘buying less, more often’ among customers for products such as shampoo, oil, tea, coffee, cream, and others are expected to create lucrative sales opportunities for the market players.
Despite the intolerance for use of plastic, plastic is the most preferred material type used for sachet packaging. Due to its cost-effective, flexible, and durability characteristics, it is highly accepted among manufacturers for a wide range of applications.
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“While scrutiny on the industry-wide applications of plastic for packaging continues to influence expansion strategies of manufacturers, some of the market players are shifting their focus to other, non-plastic, bio-degradable, and recyclable raw materials, such as aluminum foil,” says the FMI analyst.
Key Takeaways from FMI’s Sachet Packing Market Analysis
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The sachet packaging is highly fragmented and competitive in nature due to the presence of large number of players in the landscape. As per FMI, the top five players are likely to account for about 10% to 15% of the global market share in 2021.
Leading companies in market are emphasizing on adopting organic growth strategies such as product launches and product approvals. Some of the players are also engaging into collaborations and mergers and acquisitions to gain a competitive edge over other players. For instance,
Some of the leading players operating in the sachet packaging market profiled by FMI are:
More Valuable Insights on Sachet Packaging Market Report
The latest market study on the sachet packaging market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global sachet packaging market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
By Material Type
By Pack Size
By Packaging Machinery
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Key Questions Covered in Sachet Packaging Market Report
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